English abstract
Many construction and technological firms grew beyond borders of their countries since their market size couldn't absorb their growing production capacities. Similarly, orientation to certain market segments forced these firms to go abroad in order to sustain their revenues, further improve their specialization and expand shareholder value. Due to increasing competition in the world market, traditional prerequisites do not necessarily have to lead to success in international bids. In addition to technological excellence, long-lasting experience, quality and cost leadership, securing project financing can play a crucial role in project bids. International Joint Venture (IJV), led by Siemens, gained an order with an international bid for delivery of two power plants with combined cycle to Oman, due to securing project financing for multinational investor. Project financing, arranged by German state-owned KfW IPEX-Bank, proved to be the turning point in this international tender. Siemens and its Korean partner successfully delivered both power plants in full conformance to investor's requirements. Despite uneasy market conditions and financial markets recovering from financial crises, German and Korean government export credit agencies (ECAs) opened new export opportunity, in order to support their home economies. Whereas jobs in Germany were secured, Siemens as a leading contractor improved its market position within the region of Middle East. At the same time, Sultanate of Oman gained access to highly efficient power sources with low impact on environment. This reference study demonstrates increasing and necessary role of government export-oriented agencies and banks for reaching exporters' success in international business. The main objective of this paper is to contribute to identification of exporter's key success factors, when delivering project on export financing principles. In order to clearly introduce key aspects of this advanced export financing concept, case study as a research methodology was selected.
